PM Phạm Minh Chính chairs a dialogue session on HCM City’s industrial transformation with companies around the world. — VNA/VNS Photo

HCM CITY — A dialogue session was held between Prime Minister Phạm Minh Chính, leaders of agencies and localities, and large companies in Việt Nam and around the world to discuss the city’s industrial transformation, as part of the 5th HCM City Economic Forum on September 25.

Deputy Minister of Planning and Investment Trần Quốc Phương said that Việt Nam has issued many general policies for transforming the economy and transforming industries, focusing on innovation.

The Government has also approved of a project on developing Việt Nam’s semiconductor industry, and another project for training high quality workforce for the semiconductor industry and chip manufacturing.

This is key for Việt Nam to facilitate economic transformation, especially in the fields of digital transformation, innovation, and green transformation.

The Ministry of Planning and Investment will continue to assess current policies on encouraging green transformation among businesses, plus it will propose a new policy of establishing an investment fund to assist businesses in digital and green transformation.

PM Phạm Minh Chính said that industrialisation and urbanisation have to be suitable with Việt Nam's condition and global trends. The Government needs to be keenly aware of situations surround industrialisation and urbanisation around the world, within the region and in Việt Nam.

Recently, the Government has reported to the National Assembly on the amendment of several laws, such as the Law on Electronic Transactions, the Law on Land, the Law on Housing, the Law on Real Estate Business, etc. and it is also developing many other laws such as the Law on Data.

In the upcoming 8th session of the National Assembly, the number of laws passed and discussed is the highest ever.

Industrial transformation is an objective requirement, a strategic choice, and a top priority. Therefore, the Government is focusing on building mechanisms and policies to mobilise resources to promote infrastructure development, especially digital infrastructure, traffic infrastructure, infrastructure to tackle climate change, etc.

Clear roadmaps and plans for training the workforce, and mobilising assistance and sharing of experiences and resources from friends and international partners are also important.

Deputy Minister of Natural Resources and Environment Lê Công Thành said that digital transformation, green transformation and developing a circular economy have become global trends, and that his ministry has been tasked with building a national action plan for circular economy.

This plan consists of many tasks and solutions for different agencies, including solutions to support businesses in developing circular economy models for their production, applying environmentally friendly technologies, and developing markets for goods produced in circular production chains.

The plan will also cover solutions for strengthening waste management, as wastes from one industry can become input for another. Waste management models will be pilotted and widely applied, and supportive policies for funding and land for businesses making environmentally friendly products will be a part of this.

His ministry has submitted a set of criteria for determining green projects to the PM for approval, which will help qualified projects gain access to green credits.

Việt Nam also needs to learn from other countries and continue to amend laws on environmental protection to limit the import of scraps and encourage the collection of domestic wastes to be used as production material, as well as to have regulations on the rate of recycled materials in each product.

The PM affirms that Việt Nam will not sacrifice the environment for the sake of economic growth. — VNA/VNS Photo

​PM Phạm Minh Chính affirmed that the Communist Party of Việt Nam will not sacrifice the environment to chase economic growth.

One of the solutions to protect the environment is developing circular economy, and Việt Nam in general and the Government specifically are focusing on raising awareness and building mechanisms and policies to mobilise private funding for this.

The central government is also focusing on Việt Nam’s net-zero commitment by 2050, while each locality is to carry out policies and encourage the participation of locals and businesses in this goal.

Việt Nam needs to focus on switching from energy sources that emits a great deal of carbon to clean energy, gradually closing coal-run power plants in favour of nuclear energy, wind and solar power, hydrogen energy, among others.

It will soon pass a decree to encourage rooftop solar panels.

According to the PM, Việt Nam pays close attention to developing environmentally friendly vehicles, large projects such as high-speed railways and urban railways, etc.

For this, it needs the support of the people, businesses and international partners, such as G7 countries supporting the Việt Nam through the Just Energy Transition Partnership (JETP) between the country and the International Partnership Group (IPG).

The PM also said that education and training have been identified as the top national policies for the development of science, technology and innovation.

The Government has institutionalised this through laws, mechanisms, policies and programmes, as well as mobilised resources for science and technology development.

When asked about policies to attract foreign investment, the PM affirmed that foreign investors not only provide Việt Nam with capital, technology and workforce training, but they also help modernise Việt Nam’s economic structure.

Việt Nam has been perfecting its policies, simplifying administrative procedures, improving infrastructure to reduce logistics costs, and supply high quality manpower.

Việt Nam will always protect the legal rights and benefits of businesses, and hopes that businesses will continue to make long term, effective investment here.

With the theme “Industrial Transformation - a New Driving Force for HCM City’s Sustainable Development,” the 5th HCM City Economic Forum was attended by top officials and economic experts from around the world. — VNS